Govt Announces Future of Cheque Payments

The federal government has declared that cheque-based payments within the Asaan Assignment Accounts (AAA) system will be terminated as of November 15, with all transactions transitioning to the Raast digital payment network starting November 16. This announcement was made during a high-level meeting focused on advancing a cashless economy, chaired by Prime Minister Shehbaz Sharif on Friday.

Moving forward, all cheque payments throughout the country will be processed exclusively through Raast. Drawing and Disbursing Officers (DDOs) who manage these payments have undergone training to facilitate the implementation of the digital system. Additionally, the government is expediting the digitization of payments across federal and provincial departments, anticipating most institutions to complete the transition by December 2026.

It was further disclosed that all payments made under the Benazir Income Support Program (BISP) are already utilized through digital wallets. The prime minister instructed relevant ministries and departments to establish precise targets and deadlines for broadening digital payments. He emphasized the necessity of addressing technical difficulties, consumer concerns, and insufficient internet connectivity to ensure wider adoption of the digital payment system.